USDA Opens DMC Registration

Last week the U.S. Department of Agriculture (USDA) announced dairy producers can enroll in DMC between February 28 and April 29, 2024. Payments may begin as soon as March 4, if payments are triggered for January 2024.

USDA’s Farm Service Agency (FSA) has revised the regulations for DMC to allow eligible dairy operations to make a one-time adjustment to established production history. This adjustment will be accomplished by combining previously established supplemental production history with DMC production history for those dairy operations that participated in Supplemental Dairy Margin Coverage during a prior coverage year. DMC has also been authorized through calendar year 2024. Congress passed a 2018 Farm Bill extension requiring these regulatory changes to the program.

“FSA is announcing the sign up for 2024 Dairy Margin Coverage. We encourage producers to enroll in this important safety net program. In reviewing 2023 margins and the more than $1.2 billion in Dairy Margin Coverage payments issued to producers, Dairy Margin Coverage is proven to be a program to reduce risk for our dairy producers,” said FSA Administrator Zach Ducheneaux. “If 2023 taught us anything, it’s that we honestly have no idea what will happen in the market in any given year. Producers who took advantage of this affordable risk management tool for the 2023 program year, were able to mitigate some financial impacts on their operations. At $0.15 per hundredweight for $9.50 coverage, risk protection through Dairy Margin Coverage is a relatively inexpensive investment in a true sense of security and peace of mind.”

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Iowa Milk Production Down 1 Percent YOY

Milk production in Iowa during January 2024 totaled 498 million pounds, down 1 percent from the previous January according to the latest USDA, National Agricultural Statistics Service – Milk Production report. The average number of milk cows during January, at 239,000 head, was unchanged from last month but down 1,000 from January 2023. Monthly production per cow averaged 2,085 pounds, down 10 pounds from last January.

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Global Dairy Trade Event 350 concluded with the GDT Price Index up 0.5 Percent

Key Results*

AMF index up 8.6%, average price US$6,552/MT (€6,080/MT)
Butter index up 0.1%, average price US$6,526/MT (€6,056/MT)
BMP index not available, average price not available
Ched index down 7.6%, average price US$4,143/MT (€3,845/MT)
LAC index down 1.0%, average price US$785/MT (€728/MT)
MOZZ index up 5.3%, average price US$3,960/MT (€3,675/MT)
SMP index up 1.3%, average price US$2,788/MT (€2,587/MT)
WMP index down 1.8%, average price US$3,388/MT (€3,144/MT)

Full results have been published on

Application Deadline Extended for Choose Iowa Dairy Innovation Grants

Two-week extension will allow more Iowa dairies to complete application for cost-share grants that are aimed at increasing on-farm dairy processing and incorporating labor saving technology.

The Iowa Department of Agriculture and Land Stewardship announced today that the deadline to apply for Choose Iowa Dairy Innovation Grant Program has been extended by two weeks, from February 9 at 12:00 p.m. to February 23 at 12:00 p.m. Initial interest in the grant program has been strong, however industry feedback expressed that a two week extension will provide more dairies with additional time to gather information to complete the application on

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GDT Price Index up 4.2 Percent

AMF index up 3.3%, average price US$6,033/MT (€5,616/MT)
Butter index up 10.3%, average price US$6,516/MT (€6,065/MT)
BMP index up 1.2%, average price US$2,412/MT (€2,245/MT)
Ched index up 6.3%, average price US$4,469/MT (€4,160/MT)
LAC index up 2.6%, average price US$785/MT (€731/MT)
MOZZ index down 1.8%, average price US$3,760/MT (€3,500/MT)
SMP index up 4.6%, average price US$2,758/MT (€2,567/MT)
WMP index up 3.4%, average price US$3,463/MT (€3,223/MT)

Full results have been published on

2023 Average Milk Price Down From 2022

The weighted average statistical uniform price for the Central Order #32, which includes most of Iowa and the I-29 corridor, decreased this year to $18.27 per cwt., a 26.60 percent decrease from 2022’s $23.13 average. Since implementation of Federal Order reform in 2000, the annual statistical uniform price in the Central Order has ranged from a low of $11.24 in 2002 to an all-time high of $23.13 last year. The 2023 weighted average Producer Price Differential (PPD) of $1.18 per cwt. is $0.04 more than the 2022 average. Producer marketings in the Central Order averaged 1.338 billion pounds per month during 2023, for a total of 16.053 billion pounds. This total is up 2.65 percent from 2022 and is 14.16 percent less than the record 18.700 billion pounds marketed during 2002.

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Iowa Hay Price Down Compared to 2023

All hay prices in Iowa averaged $169.00 per ton in December according to the latest USDA, National Agricultural Statistics Service – Agricultural Prices report. This was $13.00 below the November price and $6.00 below the December 2022 price. The December 2023 alfalfa hay price, at $181.00, was $8.00 below the previous month and $5.00 below December 2022. The average price received for other hay during December was $151.00 per ton. This was $2.00 above the November price but $3.00 below December last year.
The average price for milk was $19.10 per cwt, 50 cents below the November price and $4.90 below December 2022. Prices received for milk cows for dairy herd replacement averaged $1,860 per head as of January 1, 2024.

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